SABIC and ExxonMobil joint venture moves into FEED stage

March 01/2011

(SABIC) -- Saudi
Basic Industries Corporation (SABIC) and affiliates of ExxonMobil Chemical announced
that work on their proposed elastomers project joint venture has moved fully
into Front-End Engineering and Design (FEED).

SABIC and ExxonMobil have selected Jubail Industrial City as the site for
the new manufacturing units following a comprehensive evaluation of a number of
variables, including integration opportunities with their existing petrochemical
joint venture at KEMYA, to determine the best location for producing these
specialty products.

As previously announced, plans would establish a domestic supply of more
than 400 KTA of rubber, thermoplastic specialty polymers (EPDM/TPE, TPO, Butyl,
SBR/PBR) and carbon black to serve emerging local and international markets in
Asia and the Middle East.